New Delhi.
While there is suspense on the trade deal of India and America on one side, a good news has come out for India from the Middle East. The trade deal between India and Oman may soon be signed. Negotiations between the two countries have been completed. Minister of State for Commerce and Industry of India Jitin Prasad told the Rajya Sabha that the conversation between India and Oman started in 2023, which has now been completed.
Answer on Congress leader’s question
In fact, Congress leader Hebi Mathere Hishham had asked a question in Parliament on India’s trade deal, in response to which Union Minister Jitin said that the trade deal between India and Oman could be signed soon. India and Oman’s friendship is quite old. The two countries are strategic partners of each other. We have a diplomatic relationship between 1955. However, the Union Minister in his reply did not mention the date of signing the trade deal.
5 big trade deal in 5 years
Union Minister Jitin said in the House that India has strengthened its business alliances in the last five years. We have signed a free trade agreement with 5 big countries. At the same time, talks are going on with many countries on a new deal.
5 big business agreements of last 5 years
- 2021-India-Mauritius Cast Economic Cooperation and Partnership Agreement (CECPA)
- 2022-India-UAE Cast Economic Partnership Agreement (CEPA)
- 2022-India-Australia Economic Cooperation and Trade Agreement (ECTA)
- 2024-India-European Free Trade Association (EFTA)
- 2025-India-UK Cast Economic and Trade Agreement (CETA)
Negotiations continue with many countries
The trade deal between India and the European union is likely to be implemented by the end of this year. Apart from this, India is interacting with Sri Lanka, Peru, New Zealand and America on several trade deals.
